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Funding of retail SMEs in the midst of a financial crisis: insights from the Eurozone

Funding of retail SMEs in the midst of a financial crisis: insights from the Eurozone

Arrieta Paredes, Mary-Paz ORCID: 0000-0001-5632-394X, Coca-Stefaniak, J. Andres ORCID: 0000-0001-5711-519X and Hallsworth, Alan (2018) Funding of retail SMEs in the midst of a financial crisis: insights from the Eurozone. Journal of Small Business Management. ISSN 0047-2778 (Print), 1540-627X (Online) (In Press)

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Abstract

SMEs remain the largest employer in the western world. Yet, the financing of their fixed and working capital investments is one of the least understood processes in Finance and Policy Research. Analysing six working hypotheses, this study focuses on this topic through the prism of Eurozone wholesale and retail enterprises at the peak of the last financial downturn. Crucially, business environment characterised by stronger legal rights and deeper credit information did not improve SMEs’ access to external finance. It is recommended that better business regulations are developed to improve the resilience of wholesale and retail to future global financial crises.

Item Type: Article
Uncontrolled Keywords: wholesale and retail, pecking order, investment, business environment, global financial crisis, generalised multilevel structural equation model
Subjects: H Social Sciences > HG Finance
Faculty / Department / Research Group: Faculty of Business
Faculty of Business > Department of International Business & Economics
Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA)
Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Centre for Governance, Risk & Accountability (CGRA)
Last Modified: 25 Sep 2019 13:46
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
Selected for GREAT 2019: GREAT 5
URI: http://gala.gre.ac.uk/id/eprint/24393

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